Interim Results for the six months ended 31 January 2015

Catherine Tralau-Stewart PhD

Chief Scientific Officer

Cathy joined C4XD in January 2022 with more than 20 years of senior academic and industry leadership experience. She has an in-depth knowledge of drug discovery and translation of early research innovation into robust drug discovery programmes. Previously she was Senior Director, Alliances, for Takeda Pharmaceuticals, responsible for the strategic development and management of academic alliances for Takeda for the US, Australia, Japan and Europe. Cathy started her career at GSK before moving into academia where she held senior leadership roles building drug discovery portfolios through to Phase III clinical studies, at Imperial College London, University of California San Francisco and Stanford University-Takeda Alliance. Cathy has a BSc (Hons) Biological Sciences (Biochemistry/Pharmacology) and a PhD (Clinical Sciences) University College Hospital Medical School, National Medical Laser Centre, Dept. of Surgery and ICRF (CRUK). She has published more than 25 publications and is the inventor of three granted patents and is a non-inventor contributor of many more. Cathy received the President’s award of Fellow Royal Society of Chemistry (FRSC), is International Meeting Chair 2022 & Previous Invited Board Director Society of Laboratory Screening & Automation (SLAS), Fellow of SLAS, Member of British Pharmacological Society, and acted as advisor to academic entrepreneurship & commercialization programmes including Stanford SPARK, UCSF, UCLA, UCSD, UC Davis and the NIH.

Catherine Tralau-Stewart PhD

Chief Scientific Officer

Cathy joined C4XD in January 2022 with more than 20 years of senior academic and industry leadership experience. She has an in-depth knowledge of drug discovery and translation of early research innovation into robust drug discovery programmes. Previously she was Senior Director, Alliances, for Takeda Pharmaceuticals, responsible for the strategic development and management of academic alliances for Takeda for the US, Australia, Japan and Europe. Cathy started her career at GSK before moving into academia where she held senior leadership roles building drug discovery portfolios through to Phase III clinical studies, at Imperial College London, University of California San Francisco and Stanford University-Takeda Alliance. Cathy has a BSc (Hons) Biological Sciences (Biochemistry/Pharmacology) and a PhD (Clinical Sciences) University College Hospital Medical School, National Medical Laser Centre, Dept. of Surgery and ICRF (CRUK). She has published more than 25 publications and is the inventor of three granted patents and is a non-inventor contributor of many more. Cathy received the President’s award of Fellow Royal Society of Chemistry (FRSC), is International Meeting Chair 2022 & Previous Invited Board Director Society of Laboratory Screening & Automation (SLAS), Fellow of SLAS, Member of British Pharmacological Society, and acted as advisor to academic entrepreneurship & commercialization programmes including Stanford SPARK, UCSF, UCLA, UCSD, UC Davis and the NIH.

Emma Blaney PhD

Chief Operating Officer

Emma oversees the day-to-day operations of the business with responsibility for defining and implementing operations strategy, structure, and processes. As a trained medicinal chemist, Emma joined C4XD in 2014 as a Senior Programme Manager and has gained more than 18 years’ experience working on Drug Discovery programmes within the Pharmaceutical sector. She brings extensive project management experience to the Executive Team with a particular focus on outsourcing management and collaborations. Previously she was a Section Head at Peakdale Molecular leading multiple projects for pharmaceuticals clients and a Medicinal Chemistry Team Leader at GSK within the Neurology and Gastrointestinal Department. Emma has a PhD in Synthetic Organic Chemistry from the University of Leeds, and a first-class Chemistry and Pharmacology degree from the University of Liverpool.

Emma Blaney

Chief Operating Officer

Emma oversees the day-to-day operations of the business with responsibility for defining and implementing operations strategy, structure, and processes. As a trained medicinal chemist, Emma joined C4XD in 2014 as a Senior Programme Manager and has gained more than 18 years’ experience working on Drug Discovery programmes within the Pharmaceutical sector. She brings extensive project management experience to the Executive Team with a particular focus on outsourcing management and collaborations. Previously she was a Section Head at Peakdale Molecular leading multiple projects for pharmaceuticals clients and a Medicinal Chemistry Team Leader at GSK within the Neurology and Gastrointestinal Department. Emma has a PhD in synthetic organic chemistry from the University of Leeds, and a first-class chemistry and pharmacology degree from the University of Liverpool.

Bhavna Hunjan

Chief Business Officer

Bhavna has spent almost 15 years in commercial and corporate roles, first as an investment banker at Lehman Brothers and Nomura International and then in corporate strategy at PwC and Cancer Research UK. In 2016, she was hired by C4XD to incept and establish a new team focused on business development, deal structuring and execution, commercial intelligence, financing, and strategic planning / M&A. Since then, Bhavna has led this team to execute a series of successful licensing deals and strategic partnerships, as well as driving business growth and capital raising as part of the Executive Management team. Bhavna has a first class Masters degree in Biochemistry from the University of Oxford. She was awarded a Rising Star in the Movers & Shakers in BioBusiness 2017, and also voted one of the 30 Rising Leaders in Life Sciences 2020 by In Vivo.

Bhavna Hanjan

Chief Business Officer

Bhavna has spent almost 15 years in commercial and corporate roles, first as an investment banker at Lehman Brothers and Nomura International and then in corporate strategy at PwC and Cancer Research UK. In 2016, she was hired by C4X Discovery to incept and establish a new team focused on business development, deal structuring and execution, commercial intelligence, financing, and strategic planning / M&A. Since then, Bhavna has led this team to execute a series of successful licensing deals and strategic partnerships, as well as driving business growth and capital raising as part of the Executive Management team. Bhavna has a first class Masters degree in Biochemistry from the University of Oxford. She was awarded a Rising Star in the Movers & Shakers in BioBusiness 2017, and also voted one of the 30 Rising Leaders in Life Sciences 2020 by In Vivo.

Simon Harford

Non-Executive Director and Chair of the Audit Committee

Simon’s career spans more than 35 years with significant financial and investor relations expertise in global pharmaceutical companies. Simon is currently CFO at Amicus Therapeutics, a NASDAQ-listed rare disease biotech and was previously CFO of Albireo Pharma Inc. a rare paediatric liver disease biotech until its sale to Ipsen. Prior to this, he was CFO of Parexel International Inc., a global clinical research organisation, which was acquired by private equity in 2017. Simon spent almost three decades in the pharmaceutical industry holding various financial leadership roles at GSK, including SVP Finance, Global Pharmaceuticals. During his tenure, he was responsible for finance in all pharmaceutical markets globally and was a member of the Global Pharmaceutical Operations Committee. Simon also held key financial management roles at Eli Lilly and Company including Vice President and Controller, CFO and Executive Director Finance for Europe, Middle East and Africa (EMEA) and led the global investor relations function as Executive Director of Investor Relations. He also received the Lilly, Chairman’s Ovation Award 2004 for outstanding achievement to Lilly. Simon has an MBA from the Darden School of Business at the University of Virginia.

Simon Harford

Non-Executive Director and Chair of the Audit Committee

Simon’s career spans more than 35 years with significant financial and investor relations expertise in global pharmaceutical companies. Simon is currently CFO at Amicus Therapeutics, a NASDAQ-listed rare disease biotech and was previously CFO of Albireo Pharma Inc. a rare paediatric liver disease biotech until its sale to Ipsen. Prior to this, he was CFO of Parexel International Inc., a global clinical research organisation, which was acquired by private equity in 2017. Simon spent almost three decades in the pharmaceutical industry holding various financial leadership roles at GSK, including SVP Finance, Global Pharmaceuticals. During his tenure, he was responsible for finance in all pharmaceutical markets globally and was a member of the Global Pharmaceutical Operations Committee. Simon also held key financial management roles at Eli Lilly and Company including Vice President and Controller, CFO and Executive Director Finance for Europe, Middle East and Africa (EMEA) and led the global investor relations function as Executive Director of Investor Relations. He also received the Lilly, Chairman’s Ovation Award 2004 for outstanding achievement to Lilly. Simon has an MBA from the Darden School of Business at the University of Virginia.

Natalie Walter

Non-Executive Director

Natalie is a corporate finance lawyer with more than 20 years of experience advising on international equity capital markets transactions in the healthcare sector. Natalie is currently General Counsel to Oxford Biomedica plc, a FTSE 250 gene and cell therapy company. Prior to joining Oxford Biomedica, Natalie was an Equity Partner at Covington & Burling LLP advising Boards on a range of strategic, transactional and general corporate finance matters, with particular expertise in advising on deals in the life sciences sector. Prior to this, Natalie had been an Equity Partner at Morrison & Foerster LLP and had spent part of her career as a Director and Legal Counsel on the ECM desk at Lehman Brothers. Natalie was a Board member of RSA (Holdings) Limited until March 2020.

Natalie Walter

Non-Executive Director

Natalie is a corporate finance lawyer with more than 20 years of experience advising on international equity capital markets transactions in the healthcare sector. Natalie is currently General Counsel to Oxford Biomedica plc, a FTSE 250 gene and cell therapy company. Prior to joining Oxford Biomedica, Natalie was an Equity Partner at Covington & Burling LLP advising Boards on a range of strategic, transactional and general corporate finance matters, with particular expertise in advising on deals in the life sciences sector. Prior to this, Natalie had been an Equity Partner at Morrison & Foerster LLP and had spent part of her career as a Director and Legal Counsel on the ECM desk at Lehman Brothers. Natalie was a Board member of RSA (Holdings) Limited until March 2020.

Alex Stevenson PhD

Non-Executive Director

Alex began his career as a microbiologist, working in research for a number of years before joining an NYSE-quoted drug development company. He subsequently moved into pharmaceutical and healthcare investment and has fulfilled a number of board-level investment and operational management roles. He was a Director and shareholder in Aquarius Equity from 2008, where he was responsible for identifying new investments and developing and implementing scientific strategies both pre and post-investment. These included Tissue Regenix Group plc, C4X Discovery Holdings plc and Brabant Pharma (subsequently sold to Zogenix, Inc.). Alex joined the Board of C4XD as a Non-Executive Director following Aquarius’ investment in the Company.

Alex Stevenson PhD

Non-Executive Director

Alex began his career as a microbiologist, working in research for a number of years before joining an NYSE-quoted drug development company. He subsequently moved into pharmaceutical and healthcare investment and has fulfilled a number of board-level investment and operational management roles. He was a Director and shareholder in Aquarius Equity from 2008, where he was responsible for identifying new investments and developing and implementing scientific strategies both pre and post-investment. These included Tissue Regenix Group plc, C4X Discovery Holdings plc and Brabant Pharma (subsequently sold to Zogenix, Inc.). Alex joined the Board of C4XD as a Non-Executive Director following Aquarius’ investment in the Company.

Chief Financial Officer

Brad Hoy

Brad has more than 20 years’ experience in the pharmaceutical and biotechnology industries and has held a number of senior financial and general management positions in both the UK and the US. Previously, Brad was Chief Financial Officer of Plethora Solutions Holdings plc, an AIM-listed specialty pharmaceutical company, Chief Executive Officer of Xcellsyz Limited, a UK venture capital-backed life science company, and Senior Director of Geron Corporation’s stem cell-focused UK subsidiary. Brad was formerly a Non-Executive Director on the Board of Directors for e-Therapeutics plc.

Brad Hoy

Chief Financial Officer

Brad has more than 20 years’ experience in the pharmaceutical and biotechnology industries and has held a number of senior financial and general management positions in both the UK and the US. Previously, Brad was Chief Financial Officer of Plethora Solutions Holdings plc, an AIM-listed specialty pharmaceutical company, Chief Executive Officer of Xcellsyz Limited, a UK venture capital-backed life science company, and Senior Director of Geron Corporation’s stem cell-focused UK subsidiary. Brad was formerly a Non-Executive Director on the Board of Directors for e-Therapeutics plc.

Chief Scientific Officer

Craig Fox PhD

Craig is an experienced biologist and NIH funded Principal Investigator who has worked on and managed many Drug Discovery and development projects over more than 20 years in the industry, from initial target selection right through to investigating clinical efficacy and safety in Phase 2 patient studies. Craig joined C4XD as Head of Biology in June 2015 before becoming Chief Scientific Officer in October later that year. Prior to joining C4XD, Craig was Director of Respiratory Research at Pulmagen Therapeutics, a clinical stage company spun out of Argenta in 2010. At Pulmagen, Craig managed several of its collaborations and partnerships, including those with AstraZeneca, Chiesi, Domantis, Dr Reddy’s, Skyepharma and Teijin Pharma. Craig was part of the Etiologics team that merged with Argenta Discovery in 2004 and prior to this he worked for Bayer as a Research Scientist. Craig has a PhD in Respiratory Medicine from Birmingham University and a first-class Biochemistry degree from the University of Surrey.

Craig Fox PhD

Chief Scientific Officer

Craig is an experienced biologist and NIH funded Principal Investigator who has worked on and managed many Drug Discovery and development projects over more than 20 years in the industry, from initial target selection right through to investigating clinical efficacy and safety in Phase 2 patient studies. Craig joined C4XD as Head of Biology in June 2015 before becoming Chief Scientific Officer in October later that year. Prior to joining C4XD, Craig was Director of Respiratory Research at Pulmagen Therapeutics, a clinical stage company spun out of Argenta in 2010. At Pulmagen, Craig managed several of its collaborations and partnerships, including those with AstraZeneca, Chiesi, Domantis, Dr Reddy’s, Skyepharma and Teijin Pharma. Craig was part of the Etiologics team that merged with Argenta Discovery in 2004 and prior to this he worked for Bayer as a Research Scientist. Craig has a PhD in Respiratory Medicine from Birmingham University and a first-class Biochemistry degree from the University of Surrey.

Clive Dix BSc PhD HonFBPhS

Interim Executive Chairman & CEO

Clive has more than 30 years’ experience through senior pharmaceutical industry positions and a degree and PhD in Pharmacology. His expertise includes an in-depth understanding of Drug Discovery and development, a broad knowledge of the science and commercial landscape across therapeutic areas and solid experience of the pharmaceutical business and finance community supporting the sector. Clive was Co-Founder and CEO of Convergence Pharmaceuticals Ltd, acquired by Biogen, and Co-Founder and CEO of PowderMed Ltd, acquired by Pfizer. Previously, he was SVP, Research and Development and a Board member of PowderJect Pharmaceuticals plc, acquired by Chiron Vaccines. Clive began his career in industry at Ciba-Geigy and GlaxoWellcome. Clive is currently on the Board of PHTA, the University of Birmingham’s flagship research facility and Non-Executive Chairman of Kesmalea Therapeutics. He was Chairman of the BioIndustry Association and interim Chair of the UK Vaccines taskforce who oversaw the supply of one of the most successful COVID-19 vaccine rollout programmes in the world.

Clive Dix PhD

Interim Executive Chairman & CEO

Clive has more than 30 years’ experience through senior pharmaceutical industry positions and a degree and PhD in Pharmacology. His expertise includes an in-depth understanding of Drug Discovery and development, a broad knowledge of the science and commercial landscape across therapeutic areas and solid experience of the pharmaceutical business and finance community supporting the sector. Clive was Co-Founder and CEO of Convergence Pharmaceuticals Ltd, acquired by Biogen, and Co-Founder and CEO of PowderMed Ltd, acquired by Pfizer. Previously, he was SVP, Research and Development and a Board member of PowderJect Pharmaceuticals plc, acquired by Chiron Vaccines. Clive began his career in industry at Ciba-Geigy and GlaxoWellcome. Clive is currently on the Board of PHTA, the University of Birmingham’s flagship research facility and Non-Executive Chairman of Kesmalea Therapeutics. He was Chairman of the BioIndustry Association and interim Chair of the UK Vaccines taskforce who oversaw the supply of one of the most successful COVID-19 vaccine rollout programmes in the world.

Eva-Lotta Allan

Non-Executive Chairman

Eva‐Lotta has more than 30 years' experience in the healthcare industry. During this time, she has been a senior executive and Board member at both public and private companies. Most recently, Eva‐Lotta was Chief Business Officer (and previously a Board member) at Immunocore, where she held full responsibility for all aspects of business development and played an instrumental role in the $320 million fundraising in 2015. Prior to this, Eva‐Lotta served as Chief Business Officer and member of the Executive Committee and Euronext IPO team for Ablynx NV, as well as senior positions at Vertex Pharmaceuticals (Europe) Ltd, Oxford Asymmetry International plc, Oxford Glycosciences and Amersham International. Eva-Lotta currently serves as Chair of Draupnir Bio, Non-Executive Director and member of the Corporate Governance Committee and the R&D Sub-Committee of Oslo listed company, Targovax ASA, and is a Non-Executive Director and member of the Nomination and Remuneration commission of Almirall, and Non-Executive Director of Crescendo Biologics and Aleta Biotherapeutics. Eva-Lotta was a Board member of the UK BioIndustry Association (BIA).

Eva-Lotta Allan

Non-Executive Chairman

Eva‐Lotta has more than 30 years' experience in the healthcare industry. During this time, she has been a senior executive and Board member at both public and private companies. Most recently, Eva‐Lotta was Chief Business Officer (and previously a Board member) at Immunocore, where she held full responsibility for all aspects of business development and played an instrumental role in the $320 million fundraising in 2015. Prior to this, Eva‐Lotta served as Chief Business Officer and member of the Executive Committee and Euronext IPO team for Ablynx NV, as well as senior positions at Vertex Pharmaceuticals (Europe) Ltd, Oxford Asymmetry International plc, Oxford Glycosciences and Amersham International. Eva-Lotta currently serves as Chair of Draupnir Bio, Non-Executive Director and member of the Corporate Governance Committee and the R&D Sub-Committee of Oslo listed company, Targovax ASA, and is a Non-Executive Director and member of the Nomination and Remuneration commission of Almirall, and Non-Executive Director of Crescendo Biologics and Aleta Biotherapeutics. Eva-Lotta was a Board member of the UK BioIndustry Association (BIA).

Mario Polywka DPhil

Non-Executive Director

Mario has more than 20 years’ experience in leadership roles across the biotech industry with strong operational, commercial, strategic and drug discovery expertise. He was Chief Operating Officer of Evotec SE for 12 years, where he was involved with transactions worth more than $1.0 billion within Evotec and Oxford Asymmetry International, prior to becoming a Member of the Evotec Supervisory Board. Previously he was CEO and Chairman of Glycoform Limited, Chairman of Nanotether Discovery Sciences, and CEO of Southampton Polypeptides Limited. Mario holds a number of Non-Executive Board Director positions in biotech companies including Exscientia, Forge, Blacksmith Medicines and Orbit Discovery. Mario studied chemistry at Oxford University, where he also completed a DPhil with Professor Steve Davies and a postdoc with the late Professor Sir Jack Baldwin. He is a Fellow of the Royal Society of Chemistry and has published a number of papers in leading publications.

Mario Polywka DPhil

Non-Executive Director

Mario has more than 20 years’ experience in leadership roles across the biotech industry with strong operational, commercial, strategic and drug discovery expertise. He was Chief Operating Officer of Evotec SE for 12 years, where he was involved with transactions worth more than $1.0 billion within Evotec and Oxford Asymmetry International, prior to becoming a Member of the Evotec Supervisory Board. Previously he was CEO and Chairman of Glycoform Limited, Chairman of Nanotether Discovery Sciences, and CEO of Southampton Polypeptides Limited. Mario holds a number of Non-Executive Board Director positions in biotech companies including Exscientia, Forge, Blacksmith Medicines and Orbit Discovery. Mario studied chemistry at Oxford University, where he also completed a DPhil with Professor Steve Davies and a postdoc with the late Professor Sir Jack Baldwin. He is a Fellow of the Royal Society of Chemistry and has published a number of papers in leading publications.

Clare Murray PhD

SVP Drug Discovery

Clare, a trained pharmacologist, joined C4XD in 2015 as Project Manager to lead the preclinical development activities for the Orexin-1 receptor antagonist project now licensed to Indivior. She leads the Biology and Taxonomy3 teams at C4XD and, as Senior VP Drug Discovery, is jointly managing the C4XD research and development pipeline with Dr. Nick Ray. Clare has over 30 years’ experience in Drug Discovery and Development having worked in the Respiratory and Inflammation, Oncology and Emerging Innovations disease areas in AstraZeneca before joining C4XD. As Associate Director and Project Leader at AstraZeneca she provided leadership of cross-functional small molecule and biological drug discovery projects and supported development projects up to Phase 2 clinical studies. Clare was also involved in establishing the AstraZeneca Open Innovation platform and in managing academic industry partnerships. Clare has published more than 20 scientific papers, has a PhD in Neuropharmacology and a first-class Biochemistry degree from the University of Kent.

Clare Murray PhD

SVP Drug Discovery

Clare, a trained pharmacologist, joined C4XD in 2015 as Project Manager to lead the preclinical development activities for the Orexin-1 receptor antagonist project now licensed to Indivior. She leads the Biology and Taxonomy3 teams at C4XD and, as Senior VP Drug Discovery, is jointly managing the C4XD research and development pipeline with Dr. Nick Ray. Clare has over 30 years’ experience in Drug Discovery and Development having worked in the Respiratory and Inflammation, Oncology and Emerging Innovations disease areas in AstraZeneca before joining C4XD. As Associate Director and Project Leader at AstraZeneca she provided leadership of cross-functional small molecule and biological drug discovery projects and supported development projects up to Phase 2 clinical studies. Clare was also involved in establishing the AstraZeneca Open Innovation platform and in managing academic industry partnerships. Clare has published more than 20 scientific papers, has a PhD in Neuropharmacology and a first-class Biochemistry degree from the University of Kent.

Nick Ray PhD

Chief Scientific Officer

Nick oversees the C4XD Drug Discovery portfolio from target selection through to pre-clinical candidate generation and partnering alongside Dr. Clare Murray, SVP Drug Discovery. Nick also leads the medicinal chemistry, structural analysis and computational chemistry/cheminformatics teams and together, with our CTO Dr Charles Blundell, is leading the continued development of our conformational analysis technology, 4Sight. Nick joined C4XD in 2016 and has more than 30 years’ experience leading key programmes at large multi-national companies including Rhône-Poulenc, Celltech and Argenta/Charles River, in the therapeutic areas of oncology, respiratory diseases, inflammation, CNS, pain and metabolic diseases. Eight of these programmes have progressed into the clinic to date. As head of the chemistry department at Charles River’s Harlow U.K. site, Nick was responsible for more than 70 chemists, fostering both the importance of strong medicinal and synthetic chemistry skills and championing professional development for his team, winning the Royal Society of Chemistry Retrosynthesis competition in 2015. He is a named inventor on over 75 patents and patent applications and has published 21 papers and presentation abstracts. Nick holds a PhD in organic chemistry from the University of Birmingham, UK.

Nick Ray PhD

Chief Scientific Officer

Nick oversees the C4XD Drug Discovery portfolio from target selection through to pre-clinical candidate generation and partnering alongside Dr. Clare Murray, SVP Drug Discovery. Nick also leads the medicinal chemistry, structural analysis and computational chemistry/cheminformatics teams and together, with our CTO Dr Charles Blundell, is leading the continued development of our conformational analysis technology, 4Sight. Nick joined C4XD in 2016 and has more than 30 years’ experience leading key programmes at large multi-national companies including Rhône-Poulenc, Celltech and Argenta/Charles River, in the therapeutic areas of oncology, respiratory diseases, inflammation, CNS, pain and metabolic diseases. Eight of these programmes have progressed into the clinic to date. As head of the chemistry department at Charles River’s Harlow U.K. site, Nick was responsible for more than 70 chemists, fostering both the importance of strong medicinal and synthetic chemistry skills and championing professional development for his team, winning the Royal Society of Chemistry Retrosynthesis competition in 2015. He is a named inventor on over 75 patents and patent applications and has published 21 papers and presentation abstracts. Nick holds a PhD in organic chemistry from the University of Birmingham, UK.

Interim Results for the six months ended 31 January 2015

Corporate highlights

Financial highlights

Chairman’s statement

Strategic Divestment of C4XD’s Orexin-1 Receptor Antagonist Programme to Indivior for £15.95 Million

Board Change

MALT-1 Inhibitor Programme Update

Half-year results for the six months ended 31 January 2023

C4XD and Garvan Institute of Medical Research report successful patient stratification approach using C4XD’s new precision medicine platform PatientSeek

MALT-1 Inhibitor Programme Update

C4XD Appoints Nick Ray as Chief Scientific Officer

Full Year Results

C4XD signs exclusive global licence worth up to $402 million with AstraZeneca for the development and commercialisation of NRF2 Activator programme

C4XD and HitGen to collaborate in inflammation hit identification project

Revenue generating progress for partnered programmes with continued momentum across drug discovery portfolio

C4X Discovery receives first milestone payment from Sanofi